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What is afinancial plan?
In financial term, we know that an investor makes a plan basing on his complete assessment of present and future financial state by utilizing his present known variables. With the help of these variables he can plan a forecast asset values, cash flows and withdrawal plans. This assessment in totality is known as afinancial plan.
Explaining the factor in FAQ style!
With our factors affecting the financial plan homework help we give a detailed explanation of all the important factors related to this subject. Here you can see a gist of our service.
What are the essential factors which affect financial planning?
There are three important factors which are:
- Personal factor
- Lifestyle factor
- Socio-economic factor
What do you understand by apersonal factor?
Personal factor is considered as an essential factor which revolves around your personal financial planning. Monetary planning in case of retirement or investment for personal use comes under this factor.
What do you understand by lifestyle factor?
It is considered as a flexible factor influencing financial planning. Investment or savings in assets which are volatile in nature like for apartment or vehicle comes into it.
What do you understand by asocio-economic factor?
Economic and social policies can be highly influential regarding your financial planning. Creation and maintenance of wealth and the methodologies to know the exact payable amount for necessary expenses, fees, taxes and other factors falls under this group.
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